You are going to withdraw $1,000 at the end of each year for the next three...

 

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You are going to withdraw $1,000 at the end of each year for the next three years from an account that pays interest at a rate of 7.846% compounded semi-annually. The account balance will be zero when the last withdrawal is made. How much money will be in the account immediately after the second withdrawal? You are going to withdraw $1,000 at the end of each year for the next three years from an account that pays interest at a rate of 7.846% compounded semi-annually. The account balance will be zero when the last withdrawal is made. How much money will be in the account immediately after the second withdrawal?

Answer rating: 100% (QA)

To calculate the amount of money that will be in the account immediately after the s... View the full answer